Blue Star Regulatory News (BLU)

1 Mar 2005 07:03

Blue Star Capital plc01 March 2005 For immediate release 1 March 2005 BLUE STAR CAPITAL PLC ("Blue Star" or "the Company") Proposed Investment in Gordian Investments plc Blue Star Capital plc (AIM: BLU), the company created to provide seed capitalfor early stage companies, is pleased to announce it is planning to invest inGordian Investments plc ("Gordian"), a company that today revealed plans tofloat on AIM. Gordian is a newly formed company that intends to acquire one or more relatedbusinesses in the technology, media and telecoms sector in the UK or mainlandEurope. Gordian marks Blue Star's fourth investment and flotation candidate. Its firstinvestment, India Outsourcing Services plc, floated on AIM in December 2004 andits second, Black Raven Properties plc, floated on AIM in early February 2005.Last month Gasol plc, Blue Star's third investment, announced its intention tofloat. Blue Star intends to invest £275,000 in Gordian in return for approximately 24.4per cent of Gordian's shares. Nigel Robertson, Blue Star Capital's Chairman, commented: "Gordian marks BlueStar's fourth investment and represents the further diversification of ourportfolio into the technology, media and telecoms sector. I am confident thatthe management team at Gordian is well placed to identify and completeacquisitions in the sector. At Blue Star, we continue to evaluate investmentopportunities and look forward to further developing our portfolio." ENDS For further information: Blue Star Capital plc Tel: 020 7070 7283 Nigel Robertson, Chairman Haresh Kanabar, Chief Executive Durlacher Limited Tel: 020 7459 3600 Jonathan Retter Katherine Roe Buchanan Communications Tel: 020 7466 5000 Mark Court Elly Williamson The full text of Gordian's press announcement follows: GORDIAN INVESTMENTS PLC ("Gordian" or "the Company") Intention to Float on the AIM market of the London Stock Exchange Gordian plc, a company established to capitalise on acquisition and investmentopportunities in the technology, media and telecoms sector, is pleased toannounce its intention to seek admission to AIM by way of an Introduction. Highlights • Gordian intends to acquire one or more related trading businesses in the technology, media and telecoms sector in the UK or mainland Europe. • Gordian has an experienced management team with a track record of successfully completing acquisitions. David Barton, Non-Executive Chairman, is a chartered accountant with commercial experience in many sectors, while Alan Pereira, Finance Director, worked as finance director of the Internet Technology Group plc, Keystone plc, e-capital investments plc and ukbetting plc. Haresh Kanabar, Non-Executive Director, is Chief Executive of Blue Star Capital. • On admission, the Company will have no trading businesses, but the Directors are aware of a number of appropriate prospects available to the Company. • The Company intends to make its first acquisition within 12 months of admission to AIM. • Gordian is joining AIM by way of an Introduction. The Company will have 30.7 million Ordinary Shares in issue immediately following admission, giving the Company a market capitalisation of £1.535 million at the admission price of 5p. • It is expected that trading in Gordian's shares will commence on AIM in early March. • Teather & Greenwood is the Company's nominated adviser and broker. On the plans for the flotation, David Barton, Gordian's Chairman, said: "I amdelighted that Gordian intends to join AIM as it gives us the opportunity tocapitalise on our transaction and sector experience with the intention ofdelivering an exciting first acquisition. We believe there is significantpotential in the technology, media and telecoms sector, which we look forward toexploiting." ENDS For further information: Gordian Investments plc David Barton, Chairman Tel: 020 7584 9256 Alan Pereira, Finance Director Tel: 020 7235 0422 Teather & Greenwood Tel: 020 7426 9000 Stephen Austin Harry Nicholas Ghaliston Ltd Tel: 020 7435 7251 Tony Fabrizi Buchanan Communications Tel: 020 7466 5000 Mark Court Elly Williamson This information is provided by RNS The company news service from the London Stock Exchange